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BUSINESS REFERENCE : AB122 / RightBiz THREE MEN’S CLOTHING RETAIL OUTLETS | | | | | | Three Men’s Clothing Retail Outlets Confidentially offered for sale Ref No: AB122 Location: Birmingham / Romford / London West End Asking price: £1,250,000 | | | BUSINESS LOCATION: | Undisclosed London UNITED KINGDOM | | BUSINESS SECTOR: | Retail | | TRADE TYPE: | Cloths & Fabric Shops | | SALE: | Agent Sale | LEASEHOLD: | £1250000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
This business has three separate outlets, all in prime high street locations, one in Birmingham, (twenty years), one in Romford, (five years) and the final one located in one of the most prestigious roads of London’s West End, (twelve years and was recently refurbished to a very high standard, befitting its location).
This business is ideal for franchising or expanding directly to other areas with strong name recognition and own branded clothes in store, alongside other known labels. The owners three year plan shows one own new store, expanding into internet sales and franchising will produce early results in the region of £2 million profit. Providing a strong and sound business and financial base, ideally situated for further expansion.
Buying directly from main Agents, and operating mainly mid market, this business has built an excellent reputation for Labels more frequently found in the major London Department Stores. This is a specialist retailer offering a large range of men’s formal and leisure clothing, at the mid price range.
Where this business really stands out however is in its capability for merchandising lots of individual collections, rather than several units of the same collections, and more importantly by mixing and matching these collections to offer its customers outfits that can rarely be found elsewhere.
Customer Service:
The business considers simply that happy customers come back and on that simple basis has maintained levels of product and service quality intended to best guarantee that happiness such as unrivalled value for money. The results of this commitment are evident in the degree of return custom and the choice of this business by new customers over competitors.
Key Strengths:
A primary strength of this business is its broad portfolio of highly popular products and brands, (both own label and bought in) on offer, combined with the convenient location of the premises, backed up by an impressive selection of styles and sizes of high repute and never being beaten on price, gives it its competitive advantage.
The business is an organisation where the vendor has developed and nurtured a name and reputation that has resulted in customer relations founded on a history of trading satisfaction and not contingent upon particular relationships with the vendor.
Growth and Expansion:
The company has earned an outstanding reputation for its honesty, service, reliability, casual and open customer experience, excellent quality products and highly knowledgeable and experienced staff.
Key Opportunities:
This is an outstanding opportunity to build on the existing business levels, reputation and customer base of this company. With a strong demand for this business’s products, combined with a capacity to increase turnover, a new owner contributing fresh ideas will have every advantage of building on an excellent platform.
This business maintains an extensive base of satisfied customers, who appreciate the company’s superior products and service. There are many excellent avenues for growth, especially with extra investment in marketing including advertising and the internet.
Advertising and Marketing:
By far the most cost effective marketing for this business comes from its prime locations and the strong word of mouth recommendation this business enjoys testimony to the excellent reputation this business has, particularly amongst its regular Clientele.
There is virtually no current advertising undertaken, nor is there currently a website. There is little doubt that with a sales and marketing strategy in place and a professionally designed web or e-commerce site, that the turnover and profits of this business could increase quickly and substantially.
Premises:
There are three premises each situated in prime main high street locations. One is in Birmingham, one in Romford and one in a prime location in London’s West End. Details of all these successful and profitable sites are available.
Employees:
The business is fully run by competent, honest and reliable staff at each of the locations and the owner does not need to attend each location on a daily basis.
Business Hours:
Each location opens at the hour’s necessary and in relation to their areas, for the successful trading of each outlet.
Financial Information:
The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.
Current turnover is circa £3,250,000, generating a gross profit of circa £1,852,500 and a net profit of circa £300,000. The net asset value is currently circa £600,000, making this a highly lucrative investment opportunity for a new owner with the energy, drive and enthusiasm to take it on to an even greater level of growth and profitability.
Reason for Sale:
The current vendor has new business opportunities in the Far East.
Support and Training:
Full support and training will be provided to the successful purchaser to ensure the smooth transition of ownership | | | | | | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | AB122 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
